The First Home Savings Account (FHSA) combines the best of an RRSP and a TFSA: tax-deductible contributions and tax-free withdrawals when you buy your first home.
Contributions lower your taxable income.
Take it out tax-free for your first home.
Room that grows toward your down payment.
A registered account designed to help first-time buyers save for a down payment. It's one of the most tax-efficient tools available — you deduct contributions from your taxes going in and pay no tax coming out, unlike most savings options.
$8000
you can contribute each year
$40000
lifetime contribution room
Tax-free
withdrawals for a qualifying home
Generally, someone who hasn't owned a home they lived in during the current year or the previous four calendar years. Many newcomers qualify even years after arriving.
Inside the account, your money grows sheltered from tax through:
What if you don't buy a home?
You won't lose a cent — your FHSA can be transferred tax-free to your RRSP or RRIF, preserving every dollar for retirement instead.
— Priya Bhatia
No pressure, no jargon — just a clear path from your first question to being covered.
We talk through your situation, family, and what's on your mind — in person, by phone, or online.
I work out exactly what you need (and what you don't), so you never over-buy.
I shop multiple insurers and lay the choices out side by side in plain language.
I handle the paperwork with you and follow up with the insurer on your behalf.
Free annual reviews, and I'm here to guide you through any future claim.
We can meet in person, hop on a call, or connect virtually. Whatever feels easiest and most comfortable for you.
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